Im not sure what Cramer is arguing (nothing new there). Is he complaining about premarket activity mispricing the stock or complaining about "Market pros" bidding up stocks to lure in "dumb money"/ Robinhooders? It seems he might be saying the big money is trying to build momentum in a stock and that momentum is luring in Robinhooders. He said he didn't think it was Robinhooders bidding up the prices, but it doesn't matter. Just because someone else bids up the prices and Robinhooders buy it, they are still part of the mispricing problem. Who goes first doesn't really matter. Cramer still sees markets as he traded them in the late 1990's. It's a different market now. My question to him is simply "who is they?" because it is easy to place blame on a mystery group without naming them. No bank trading desk is using bank capital to trade HTZ. No large institutional buyer is going to play in the time frame of hours or days. Maybe a hedge fund would, but I can only think of a few, like Citadel, that might have the capital to do this. But that is risky because the Citadel Securities is a market maker and clearing broker for Robinhood trades, so the Citadel hedge fund arm should be reluctant to try the pump-and-dump Cramer described because of the scrutiny it might get from regulators given that it is illegal. Hard to figure out because it is complicated and that is why Cramer says "they". I have seen a lot of opinions accompanied by bad analysis trying to say these small traders have nothing to do with it, but I know who is going to take pain when it goes bad.
The chart below is hard to deny. Take a look at the site and compare RH activity to prices for other stocks.
https://robintrack.net/symbol/HTZ